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Dec 10, 2012
12/12
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WBAL
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we already have a $292 billion deficit. but in those two months, revenues have increased by 10%. $30 billion. you only get $31 billion in the first year when you raise those two rates. but you know what the problem is? we increased spending by 16%, $87 billion. this is more about a spending problem, not a taxing problem. and that's the problem with washington. >> first of all, congressman, you threw out a number there, there are a lot of numbers that can confuse people. you talk about $31 billion. the reality is, over 10 years, based on documents i have seen from republicans, raising the top rates would get you over $400 billion in new revenue. so that is a fact that both sides agree on. >> david, in two months of this new pacific northwe new fiscal year, you have $10 billion in revenue but 16% increase in spending. it is a spending problem. and the president wants to increase taxes to continue the spending. he proposed a plan that put a new spend list in that added more than just the top two rates' worth in the first year.
we already have a $292 billion deficit. but in those two months, revenues have increased by 10%. $30 billion. you only get $31 billion in the first year when you raise those two rates. but you know what the problem is? we increased spending by 16%, $87 billion. this is more about a spending problem, not a taxing problem. and that's the problem with washington. >> first of all, congressman, you threw out a number there, there are a lot of numbers that can confuse people. you talk about $31...
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Dec 9, 2012
12/12
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WBAL
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and looks like it will be hard to beat that deficit. you can see with a warm front is to the south of us. annapolis south, readings are in the 50's. north of that in the blue, readings in the 40's. 39 in oakland. milder air tomorrow. the movement of warmer air to the north will generate fog. some drizzle and a shower activity and most of the act of rainfall will be of to our north and northwest. we need to get a system through here before we're done with the threat of wet weather and that will not be until tomorrow night or tuesday morning. trading in an east wind we have now for a more southern win by tomorrow bringing temperatures up. by the end of tomorrow, this one will come through and bring the chance for some rain and possibly a rumble of thunder. temperatures just do not drop all that much. light rain, drizzle love of with the wind subtle at daybreak. during the day tomorrow, we can expect 63-67 high. there may be some breaks, but as the jazz clouds and showers activity. most of it will be at the end of the day. you may hear a c
and looks like it will be hard to beat that deficit. you can see with a warm front is to the south of us. annapolis south, readings are in the 50's. north of that in the blue, readings in the 40's. 39 in oakland. milder air tomorrow. the movement of warmer air to the north will generate fog. some drizzle and a shower activity and most of the act of rainfall will be of to our north and northwest. we need to get a system through here before we're done with the threat of wet weather and that will...
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Dec 10, 2012
12/12
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WBAL
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tax rates on the highest 2% of income earners, you cannot generate enough revenue to have meaningful deficit reduction. >> reporter: republicans want big spending cuts to programs like medicare and says. >> we don't want to be back here in another year, another ten years answering the same questions. >> reporter: as the talks continue on both sides of pennsylvania avenue, americans from main street to wall street wait to see who will blink first. brian mooar, nbc news, washington. >>> sad news it tell you about out of afghanistan where a u.s. navy s.e.a.l. was killed during the rescue operation of a colorado doctor. the s.e.a.l. team 6 member was killed while working to rescue dr. joseph, who worked for a christian nonprofit group. u.s. officials believed the doctor's life was in danger. >>> president obama said the fallen special forces member whose name has not been released "gave his life for his fellow americans." >>> latin music fans mourning the tragic death of mexican american singer jenni rivera. the 43-year-old grammy nominee and six others died early sunday when their small plane c
tax rates on the highest 2% of income earners, you cannot generate enough revenue to have meaningful deficit reduction. >> reporter: republicans want big spending cuts to programs like medicare and says. >> we don't want to be back here in another year, another ten years answering the same questions. >> reporter: as the talks continue on both sides of pennsylvania avenue, americans from main street to wall street wait to see who will blink first. brian mooar, nbc news,...
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Dec 9, 2012
12/12
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WBAL
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chris: can we bank on the fact that we're the currency of the world and we can keep running enormous deficits? >> we have the ability to issue debt in our own currency and make it credibility. nobody else can do that and people keep buying it. two more quick points, chris, about this what we are seeing now. first, the president has taken leadership of his own party, something he really didn't do during his first term and right out of the box after the election he's the leader of the democrats. don't deal with pelosi, don't deal with reid, i'm the guy, and that's significant and the second thing is in that clip that we saw introducing the saw the president talking to business groups and really trying to bond with them and say i want what you want. chris: they're his allies. >> two new things about this president, post-election, that's fascinating. chris: even though you disagree about the urgency with this thing, the fact that the business community are his natural allies because they want it done. the democrats haven't been heard from because the focus has been on the tax side. when it comes
chris: can we bank on the fact that we're the currency of the world and we can keep running enormous deficits? >> we have the ability to issue debt in our own currency and make it credibility. nobody else can do that and people keep buying it. two more quick points, chris, about this what we are seeing now. first, the president has taken leadership of his own party, something he really didn't do during his first term and right out of the box after the election he's the leader of the...
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Dec 6, 2012
12/12
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WBAL
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we are a deficit -- we're in deficit of $1.1 trillion, if that isn't a stimulus, the drinks are on me. that's what that is. and unless you get in there, people are going to say, i've got an idea for you, you're addicted to debt, we're going to loan you more, and when we do that, interest rates will kick up and inflation will kick in and guess who gets hurt the worst? the middle guy, the middle class. >> it's not thee yatrics on the part of congress, but they're confused. isn't that pathetic? >> i don't know, a lot of people are confused, especially the people who don't understand what's coming before december 31st. what's different is they dug their own snare. they put the chain on their own ankles, they have to do something before december 31st, before you get a mindless cut of $600 billion in defense. you've got the payroll tax you've got to bring back from 4.2 to 6.2. where the hell was the aarp when they cut the payroll tax? madness is half a word. these guys if you gave them 90% of them a profit loss statement in one hand and a balance statement in the other, they wouldn't know h
we are a deficit -- we're in deficit of $1.1 trillion, if that isn't a stimulus, the drinks are on me. that's what that is. and unless you get in there, people are going to say, i've got an idea for you, you're addicted to debt, we're going to loan you more, and when we do that, interest rates will kick up and inflation will kick in and guess who gets hurt the worst? the middle guy, the middle class. >> it's not thee yatrics on the part of congress, but they're confused. isn't that...
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Dec 10, 2012
12/12
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WBAL
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tax rates on the highest 2% of income owners you cannot generate enough revenue to have meaningful deficit reduction. >> republicans want big spending can you tell us to programs. >> we don't want to be back here in another year and another 10 years answering the same questions. >> as the talks continue on both sides americans from main street to wall street wait to see who will blink first. >> both sides are earring to wind down this crisis and head home for the holidays but no one wants to walk away in doo feet. -- defeat. >> former president george hw bush remains in stable condition for treatment of a bronchitis related cough. more than two weeks since the 88-year-old was admitted for treatment. a hospital spokesman says there is no change in the condition. doctors have indicated that the 41st president continues to improve but in no hurry to release him. >> up next a horrible discovery
tax rates on the highest 2% of income owners you cannot generate enough revenue to have meaningful deficit reduction. >> republicans want big spending can you tell us to programs. >> we don't want to be back here in another year and another 10 years answering the same questions. >> as the talks continue on both sides americans from main street to wall street wait to see who will blink first. >> both sides are earring to wind down this crisis and head home for the...
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Dec 5, 2012
12/12
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CSPAN2
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last year the deficit was 7.9%. this year with the apf coupons it is forecast to be 6.9%, but that excludes the aspect of the royal mail pension access. it will fall to 5.2% the year after, 4.2 president in 2015-'16, before reaching 1.6% in 2017-'18. in 2009-'10 the country was borrowing 159 billion pounds. this year we are borrowing 108 billion pounds. that is forecast to fall to 99 billion next year, 88 billion the year after, then 73 billion in 2015-'16 and 49 billion and 31 billion in the two years around that. these are the central forecasts published by the opr with the asset purchase facility cash transfer included. when the transfer is excluded, as we show in the document, the deficit also falls from 7.9% last year to 7.7% this year, then 6.9% next year and falls in every single year after that. and cash borrowing falls in every year as well. now, there are those who have been saying that the deficit was going up this year. indeed, i think i heard it in prime minister's questions. but any way you present the
last year the deficit was 7.9%. this year with the apf coupons it is forecast to be 6.9%, but that excludes the aspect of the royal mail pension access. it will fall to 5.2% the year after, 4.2 president in 2015-'16, before reaching 1.6% in 2017-'18. in 2009-'10 the country was borrowing 159 billion pounds. this year we are borrowing 108 billion pounds. that is forecast to fall to 99 billion next year, 88 billion the year after, then 73 billion in 2015-'16 and 49 billion and 31 billion in the...
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Dec 12, 2012
12/12
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CNBC
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we have a huge deficit. frankly i think ben bernanke has done very, very well stimulating the economy without government interference. i think the thing to do is go right over the fiscal cliff. you'll raise some taxes, yes, that's true, you'll cut defense and some human services. this is the only way we'll have a significant bite out of this deficit. i think the market is going to like this. they say no right now, but when they see that this government is taking on the deficit in a serious way i think they will like it >> you don't think going over the cliff is armageddon? >> this is just nonsense, absolutely not. this is a bipartisan deal that was made. now both parties are trying to welch on their commitments. i think that's a mistake. >> steve, ben bernanke said today if we do go over the fiscal cliff, even if it's for a short period of time, it's going to be very costly and they do not have the tools to basically dig us out of it. do you believe if we go over the fiscal cliff it won't be as easy as the g
we have a huge deficit. frankly i think ben bernanke has done very, very well stimulating the economy without government interference. i think the thing to do is go right over the fiscal cliff. you'll raise some taxes, yes, that's true, you'll cut defense and some human services. this is the only way we'll have a significant bite out of this deficit. i think the market is going to like this. they say no right now, but when they see that this government is taking on the deficit in a serious way...
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Dec 8, 2012
12/12
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you cannot cut your way to deficit reduction. what does reduce the deficit are jobs, job creation. have the spending cuts, we have the medicare savings, what we need are the revenues. and that is what you have to ask the question, why are we not here to pass the middle income tax cut which unleashes the high end -- increases the high end contribution to the budget talks. why are we not here to pass the middle income tax cut? why are we not here to even debate the middle income tax cut? could it be because the republicans are holding the middle income tax cuts as they have all along hostage to tax cuts for the wealthy? as long as they will not touch one hair on the red or get one red scent from the high end we will never have the revenue with the save togs reduce the deficit, to create jobs and grow the economy and improve the lives of the american people. [inaudible] >> [inaudible] as i've cede before than subject, what we want to do is protect the middle class. so it's not about the rate, it's about the money. none of this high end tax -- the objection to extending is about being
you cannot cut your way to deficit reduction. what does reduce the deficit are jobs, job creation. have the spending cuts, we have the medicare savings, what we need are the revenues. and that is what you have to ask the question, why are we not here to pass the middle income tax cut which unleashes the high end -- increases the high end contribution to the budget talks. why are we not here to pass the middle income tax cut? why are we not here to even debate the middle income tax cut? could it...
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you cannot cut your way to deficit reduction. lou: that's right. pelosi says we cannot get our way to deficit reducti. listen to the top democrat in the house of epresentatives, the former speaker of the hous unveiling -- on dealing with the fiscal crisis one more time. >> in many homes across america ad is a very, ver lean time. you cannot cut your way to deficit reduction. lou: today said nority leader appeared to be trying to outperform policy and the political rhetoric of the absurd . senator reid's reason to be wary ofeducing spending. >> the european community now is concerned about all the austerity. there are many, my things you can do to reduce debt but still have a stimulus aspect of the economy. >> that -- lou: the sete's top democrat believes we should return to europe for inspiration and guance for fisal policy, taking greece, perhaps, as a standard for dealing with economic and budget crises. the speaker did a charge the president is slow walking th nation to the brink of a fiscal cliff. that is one of the speakers
you cannot cut your way to deficit reduction. lou: that's right. pelosi says we cannot get our way to deficit reducti. listen to the top democrat in the house of epresentatives, the former speaker of the hous unveiling -- on dealing with the fiscal crisis one more time. >> in many homes across america ad is a very, ver lean time. you cannot cut your way to deficit reduction. lou: today said nority leader appeared to be trying to outperform policy and the political rhetoric of the absurd ....
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Dec 5, 2012
12/12
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CSPAN2
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the deficit. we have cut the deficit by 25%. there are a million more private sector jobs. businesses are starting at higher rate than any time in our history. this economy is on the right track. we are equipping britain for the global race and on like the party opposite we are in the side of people who work hard and want to do the right thing. what is the answer? more borrowing, more spending, more of the things that got us into this mess in the first place. >> mr. speaker, years ago the nhs spent five hundred million pounds on tamiflu without seeing the day on the effectiveness or safety and rather than being an isolated case it is normal for the drug industry to have almost complete control over the evidence based upon which crucial public decisions are made. will the prime minister asked to make available the full chemical study reports on tamiflu so the doctors, patients and taxpayers are not misled? >> my hon. friend does excellent work on behalf of the taxpayer through all of the very good
the deficit. we have cut the deficit by 25%. there are a million more private sector jobs. businesses are starting at higher rate than any time in our history. this economy is on the right track. we are equipping britain for the global race and on like the party opposite we are in the side of people who work hard and want to do the right thing. what is the answer? more borrowing, more spending, more of the things that got us into this mess in the first place. >> mr. speaker, years ago the...
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Dec 7, 2012
12/12
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CSPAN
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eye 107
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it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. i do think to focus and our biggest driver is going forward,social security, medicare, to on them. will be more important in the number on discretionary spending or tax cuts themselves. do you think the president's plan adequately addresses the sustainability of medicare and social security? further. i do not think it is enough. i believe the proposals are good ones. i think they are hard proposals to make because they're substantive. to achieve fiscal sustainability in the context of $3 trillion in 10-year deficit reduction, i think we need to do more. >> looking at the republican plan and the president's proposal, do you see any common ground? >> the common ground is that we're looking at the same proposals. cbo has scored a number of different approaches. i also think there is no general agreement in the context of the current discussion, we will not make any
it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. i do think to focus and our biggest driver is going forward,social security, medicare, to on them. will be more important in the number on discretionary spending or tax cuts themselves. do you think the president's plan adequately addresses the sustainability of medicare and social security? further. i...
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Dec 11, 2012
12/12
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CSPAN2
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and what is up next is the deficit. at least the bell way, what is up next is the deficit. apparently not. i think that our political system has to find consensus wherever it can. you can't chew gum and pocket the same time. you can't do a big thing like deficit reduction and focus in on lots of other things that require time and attention. so i saw and the polling, what i saw was support for short-term stimulus, long-term deficit reduction. not so much. job creation a lot. a concern about what was being talked about, the difference between federal investment dollars or attention -- attention between the and investment agenda which was largely education and the consumption agenda which was a retirement program. social security and medicare. all that is very real. i don't think we will grapple with that, and i don't think my own bias is that we will get a piece of the deal and then we will get a deal to make a deal. it will stay in fiscal limbo as long as possible. so the public business, we won't get on with the public business for a while. >> just jump in there. i am pro w
and what is up next is the deficit. at least the bell way, what is up next is the deficit. apparently not. i think that our political system has to find consensus wherever it can. you can't chew gum and pocket the same time. you can't do a big thing like deficit reduction and focus in on lots of other things that require time and attention. so i saw and the polling, what i saw was support for short-term stimulus, long-term deficit reduction. not so much. job creation a lot. a concern about what...
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Dec 10, 2012
12/12
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that in terms of the deficit, we have cut the budget deficit by 25%. you will get an update of the progress in a minute. how on earth, can you deal with a borrowing problem when pledging to borrow more? >> let's be clear, mr. speaker, about his answer on 50 p. the answer to the problem -- the answer to the problem of tax avoidance is to give the people doing it a tax cut. that is the answer he gave. give them a big giveaway and the reality is -- the reality is that the prime minister couldn't get away from, the deficit going up, not down on his watch. we remember the posters with his air brushed face saying i will cut the deficit not the n.h.s. the facts speak for themselves. he has cut the n.h.s. and he's not cutting the deficit. he is 100% wrong. >> we're increasing the n.h.s. and we've cut the deficit. business are starting up at a higher rate than any time in our history, this economy is on the right track. unlike the party opposite we're on the side of people who work hard and do the right thing. what is his answer? more borrowing, more spending,
that in terms of the deficit, we have cut the budget deficit by 25%. you will get an update of the progress in a minute. how on earth, can you deal with a borrowing problem when pledging to borrow more? >> let's be clear, mr. speaker, about his answer on 50 p. the answer to the problem -- the answer to the problem of tax avoidance is to give the people doing it a tax cut. that is the answer he gave. give them a big giveaway and the reality is -- the reality is that the prime minister...
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Dec 7, 2012
12/12
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CNBC
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>> we have an enormous deficit problem in the united states. nobody's dealt with it since bill clinton was president of the united states. there are a number of things we're going to have to do in order to meet our deficit. we're going to have to both raise taxes and cut spending. one of the areas we must cut spending is defense. there hasn't been serious cuts in defense in 30 years. the defense industry is well positioned. they have plants in something in over 300 districts. there's a lot of bipartisan defense spending. for example, the defense authorization bill that just passed yesterday in the senate gave the pentagon $17 billion more than they asked for. so to think that any industry or any taxpayer or any group of people who depend on government spending can be exempted from the serious problem that we have that's caused by this deficit is a mistake. everybody is going to have to pay for this. >> dawn, right or wrong, the defense industry has this reputation of being bloated, overcharging. are we at a point where we could afford to make c
>> we have an enormous deficit problem in the united states. nobody's dealt with it since bill clinton was president of the united states. there are a number of things we're going to have to do in order to meet our deficit. we're going to have to both raise taxes and cut spending. one of the areas we must cut spending is defense. there hasn't been serious cuts in defense in 30 years. the defense industry is well positioned. they have plants in something in over 300 districts. there's a...
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Dec 6, 2012
12/12
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eye 94
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it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. social security, medicare, to find a sustainable path for word on them. do you think the president's plan adequately addresses the sustainability of medicare and social security? >> >> i think he needs to go further. i do not think it is enough. i believe the proposals are good ones. i think they are hard proposals to make because they're substantive. to achieve fiscal sustainability in the context of $3 trillion in 10-year deficit reduction, i think we need to do more. >> looking at the republican plan and the present proposal, do you see any common ground? -- and the president's proposal, do you see any common ground? >> the common ground is that we're looking at the same proposals. cbo has scored a number of different approaches. i also think there is no general agreement in the context of the current discussion, we will not make any major structural changes
it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. social security, medicare, to find a sustainable path for word on them. do you think the president's plan adequately addresses the sustainability of medicare and social security? >> >> i think he needs to go further. i do not think it is enough. i believe the proposals are good ones. i think...
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Dec 8, 2012
12/12
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CSPAN
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deficit-reduction. what does reduce the deficit is jobs, job creation. what we need are the revenues, and that is what you have to ask the question about. why are we not here to pass additional tax cuts, which increases the high-end contribution to the budget talks? why are we not here to pass middle-income tax cuts? what are we not even here to debate the middle-income tax cut? can it be because the republicans are holding this as they have all along hostage to tax cuts for the wealthy? as long as they will not touch one hair on the head or get one red cent of their rich, to reduce the deficit, to create jobs, to grow the economy, to improve the lives of the american people -- >> the speaker was asking about middle ground. do you necessarily rule it out? is it your understanding that that is something he would accept? >> what we want to do is protect the middle class. it is not above the rate. it is about the money. the objection to extending it is about being punitive to the high end. it is about getting money to reduce the deficit, to grow the economy
deficit-reduction. what does reduce the deficit is jobs, job creation. what we need are the revenues, and that is what you have to ask the question about. why are we not here to pass additional tax cuts, which increases the high-end contribution to the budget talks? why are we not here to pass middle-income tax cuts? what are we not even here to debate the middle-income tax cut? can it be because the republicans are holding this as they have all along hostage to tax cuts for the wealthy? as...
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Dec 9, 2012
12/12
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FOXNEWSW
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how do we get a handle on the growing $16 trillion deficit? coming up next, tim murphy of pennsylvania will be here to tell us what else the nation needs to do to get our economic house in order. have you heard about that tragic situation, josh brent, cowboys defensive lineman? he faces cter a car crash that killed one of his teammates? that's straight ahead. >> it's really unfortunate that that happened, making an everyday decision that can affect everything everybody's life. >> i am sure it will be difficult to move on. but i am sure they will bounce back and be able to come around. s my husband and i can't stop eating 'em! what's...that... on your head? can curlers! tomato basil, potato with bacon... we've got a lot of empty cans. [ male announcer ] progresso. you gotta taste this soup. >> jamie: another sad story out of the,r of the nfl. a member of the dallas cowboys is facing manslaughter. josh brent was allegedly drunk and speeding during a car accident saturday morning that led to the death of his passenger and teammate jerry brown. ca
how do we get a handle on the growing $16 trillion deficit? coming up next, tim murphy of pennsylvania will be here to tell us what else the nation needs to do to get our economic house in order. have you heard about that tragic situation, josh brent, cowboys defensive lineman? he faces cter a car crash that killed one of his teammates? that's straight ahead. >> it's really unfortunate that that happened, making an everyday decision that can affect everything everybody's life. >> i...
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Dec 12, 2012
12/12
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the biggest deficit this country has is a leadership deficit. we do not have leadership from our top political leaders. the president needs to use the to build that case. we need to take a book out of bill clinton's presidency in 1998 where he used this type of approach to be able to prepare the way for social security, and for this case, grand bargain. that is what needs to happen. let me give you three simple ideas for congress. no budget, no pay. i am serious. this is one of our mantra. if you do not pass a budget by the beginning of the fiscal year, you do not get paid until you do, and there is no retroactive pay and. california did it. it is the only thing in the constitution they are supposed to every year and they did not do it. number two,had a behavioral impact. no deal, no break. starting in 2013, they do not grand bargain. these people get seven times more days off than the typical american. money. thirdly, every member of congress should be required to prepare their own taxes. everyone should be required to prepare their own taxes b
the biggest deficit this country has is a leadership deficit. we do not have leadership from our top political leaders. the president needs to use the to build that case. we need to take a book out of bill clinton's presidency in 1998 where he used this type of approach to be able to prepare the way for social security, and for this case, grand bargain. that is what needs to happen. let me give you three simple ideas for congress. no budget, no pay. i am serious. this is one of our mantra. if...
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Dec 5, 2012
12/12
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we reached those massive deficits, the largest deficits in american history. and we begin to bring those back down. enter 2007. 2007, 2008 we had a republican president in the white house, we had a democratic speaker here in the u.s. house, spending began to tick back up. and as we entered the obama years, mr. speaker, here is the largest deficit in american history recorded during the bush administration, this is the annual deficit recorded in the obama administration. not twice as large than the largest deficit in american history. not three times as large as the largest deficit in american history. but almost four times larger than the previous largest annual deficit in american history was the first year deficit recorded in the obama administration. we tip, that was the first time ever we run trillion dollar deficits, we continue to run trillion dollar deficits throughout that time. tax policy hasn't changed during that time. tax policy is exactly the same. you hear in the newspaper all the time, mr. speaker, the bush tax cuts. i don't know that that has m
we reached those massive deficits, the largest deficits in american history. and we begin to bring those back down. enter 2007. 2007, 2008 we had a republican president in the white house, we had a democratic speaker here in the u.s. house, spending began to tick back up. and as we entered the obama years, mr. speaker, here is the largest deficit in american history recorded during the bush administration, this is the annual deficit recorded in the obama administration. not twice as large than...
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are concerned about deficits and want to reduce deficits that will get channeled into cutting spending and that became something that is more popular known as starve the beast and it's the underlying principle underneath the tax pledge but it turned out that there wasn't that much of a limit to the deficit and so you ended up simply with lower taxes and higher spending and that's what we saw during the george w. bush era where he increased spending and cut taxes at the same time and that was really not the way judes theory was supposed to work so is there a alternative like a two thousand and twelve two thousand and thirteen strategy is it time for the republican party to let go of that and say oh they're not the tax cut santa clause they can't because the billionaires who control the party want tax cut. for themselves and as long as you've got millions and millions of crazy tea party people who for some reason vote against their own direct economic interest and support the billionaires against themselves. you know we're kind of stuck and less the democratic coalition gets stronger but
are concerned about deficits and want to reduce deficits that will get channeled into cutting spending and that became something that is more popular known as starve the beast and it's the underlying principle underneath the tax pledge but it turned out that there wasn't that much of a limit to the deficit and so you ended up simply with lower taxes and higher spending and that's what we saw during the george w. bush era where he increased spending and cut taxes at the same time and that was...
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91
Dec 7, 2012
12/12
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CSPAN2
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eye 91
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the deficit and debt will improve as 34%. but the one thing they are certain is that taxes will increase. and in the next four years how it affected you think the federal government will be on each of the following issues. we read a list of these issues, we rotated those. this is how it basically stacks up. ensuring long-term future of entire programs such as social security and medicare, 65%. 64% creating jobs, 64% improving public education, growing the economy, creating a business environment that allows for innovation. lowering the federal deficit actually false down to 40. not as much confidence there as a part on the other side. we been said the training faces a number of challenges including but not limited to large budget deficits, national debt, slower economic recovery, high unemployment, deep political divide on many issues. do you believe we will overcome these challenges in the foreseeable future as we've done in the past, or do you think these are unique set of challenges that are so serious that we might not be
the deficit and debt will improve as 34%. but the one thing they are certain is that taxes will increase. and in the next four years how it affected you think the federal government will be on each of the following issues. we read a list of these issues, we rotated those. this is how it basically stacks up. ensuring long-term future of entire programs such as social security and medicare, 65%. 64% creating jobs, 64% improving public education, growing the economy, creating a business...
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Dec 5, 2012
12/12
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we went into deficits, deficits as far as the eye could see. deeper and deeper in debt. so you might ask, then, "senator boxer, why are you now supporting those tax cuts being renewed for 98% of the people?" and the answer is, it's a different time and a different place. we're getting out of a recession and we can make up the moneys we need to balance this budget by going just to the top rate, going to the people over $250,000. remember, this plan that we passed in july -- if we could go back to that chart -- that gives a tax break on the first $250,000 of income. and, in essence, giving everybody a tax break on that first $250,000. it's only after that that the taxes go back to clinton era. and because this is a different time and place, i support giving a tax break, continuing it for 98%, but asking the wealthiest to pay their fair share for the greatest country on the face of this earth. my father was born into dire poverty. he was the only one of nine children born in america. he was the only one of nine children to go to college at night in your great state, madam p
we went into deficits, deficits as far as the eye could see. deeper and deeper in debt. so you might ask, then, "senator boxer, why are you now supporting those tax cuts being renewed for 98% of the people?" and the answer is, it's a different time and a different place. we're getting out of a recession and we can make up the moneys we need to balance this budget by going just to the top rate, going to the people over $250,000. remember, this plan that we passed in july -- if we could...
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Dec 5, 2012
12/12
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they don't care about deficits. they care about flattening the tax code so lower income people pay more. >> that's the dirty little secret. thank you. i wish we had more time. we don't. >>> next, sheldon walking the corridors of congress? what? i wonder if $150 million buys you a key to the speaker's office. i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. a new way to save on your prescriptions. it's the aarp medicarerx saver plus plan from unitedhealthcare. with this plan, you can get copays as low as a dollar through a preferred network pharmacy like walgreens -- where you'll find 8,000 convenient locations. best of all, this plan has the lowest part d premium in the united states -- only $15 a month. open enrollment ends december 7th. so call today or visit your local wa
they don't care about deficits. they care about flattening the tax code so lower income people pay more. >> that's the dirty little secret. thank you. i wish we had more time. we don't. >>> next, sheldon walking the corridors of congress? what? i wonder if $150 million buys you a key to the speaker's office. i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin...
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Dec 12, 2012
12/12
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CSPAN2
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eye 69
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they're not serious about the deficit. they are not a serious party, and everyone can see it. >> thank you very much, mr. speaker. will the prime minister join me as i'm sure the whole house in sending our condolences to a nurse who died this week? in urging anyone who said support families, and urging the press to continue their largely good record in preserving the privacy of this and as a time of most terrible grief. >> here, here spent i'm indeed sure the whole house and the whole country will join me in paying tribute to this nurse and giving all our sympathies and condolences to her family. she clearly loved her job, love to work, care deeply about the health of her patients and what's happened is a complete tragedy. it will be many lessons the need to be learned and i echo what she says about the press keeping their distance and allowing this family the time it is face to greek. >> dennis skinner. >> -- faced to grief. >> is the prime minister still intending to introduce the snoopers charter come euphemistically kn
they're not serious about the deficit. they are not a serious party, and everyone can see it. >> thank you very much, mr. speaker. will the prime minister join me as i'm sure the whole house in sending our condolences to a nurse who died this week? in urging anyone who said support families, and urging the press to continue their largely good record in preserving the privacy of this and as a time of most terrible grief. >> here, here spent i'm indeed sure the whole house and the...
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Dec 13, 2012
12/12
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CSPAN2
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so the result was a return to large deficits. and, of course, those large deficits grew substantially larger because of the recession that began in december of 2007. today we're trying to strengthen our economy while at the same time trying to reduce projected deficits. that long-term deficit reduction will once again require higher taxes and also new constraints on spending, and i hope that even in these final days of this 112th congress we can reach tbreament to proceed. -- agreement to proceed. as regards health care in the long-standing fight to provide americans with access to affordable health care, we have seen significant progress. in 1997 we enacted the children's health insurance program, which resulted in nearly 8 million american children obtaining access to health care. of course, in 2010, we adopted the patient protection and affordable care act. this unfairly maligned legislation has the promise of moving us much closer to the goal of universal health care, and i am ar i am proud to have d with my colleagues in the
so the result was a return to large deficits. and, of course, those large deficits grew substantially larger because of the recession that began in december of 2007. today we're trying to strengthen our economy while at the same time trying to reduce projected deficits. that long-term deficit reduction will once again require higher taxes and also new constraints on spending, and i hope that even in these final days of this 112th congress we can reach tbreament to proceed. -- agreement to...
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Dec 13, 2012
12/12
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CSPAN
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now we have record deficits. that surplus was created because we had the confidence to invest in the american people, to do nation building right here at home. and a strong, prosperous america is the best america in terms of our foreign policy as well. we've become the aspiration for the rest of the world, when america is doing what it ought to be doing, when it doesn't fear its own people, when it seeks not to divide the nation but bring it together. you know, hubert humphrey once said that the greatest foreign policy initiative of the johnson administration was the civil rights act. now, although it was a domestic policy, what he was saying was that when america acknowledges its mistakes, when america lives up to its ideals, it becomes an inspiration, an inspiration for the rest of the world. all those areas of the economy that tom friedman writes about in -- that used to be us. we cultivated great artists but also the greatest economy in the history of the world. people that couldn't demonstrate , rastapouvich
now we have record deficits. that surplus was created because we had the confidence to invest in the american people, to do nation building right here at home. and a strong, prosperous america is the best america in terms of our foreign policy as well. we've become the aspiration for the rest of the world, when america is doing what it ought to be doing, when it doesn't fear its own people, when it seeks not to divide the nation but bring it together. you know, hubert humphrey once said that...
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Dec 14, 2012
12/12
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CSPAN2
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the biggest deficit of the leadership deficit. what about leadership from our top political leaders and the president needs to use the power of the bully pulpit to build that case. we need to take a boat out of bill clinton's presidency in 1998, were use this type of approach to be able to prepare the way for social security, but this in case for bargain. that's what needs to happen. let me give you three simple ideas for congress. number one, no budget, no pay. i'm serious. i'm one of the founders of note labels. if you don't pass a budget and all the appropriations bills by the beginning of the fiscal year come you don't get paid until you do that so rectory is paid. the only thing in the constitution are supposed to do every year, california did it come high behavioral impact. number two, no deal, no break. starting in 2013, they don't get any recesses until they get a grand bargain. these people to seven times more days of the typical american. if they got pay-for-performance, they would owe us money. thirdly, every member of
the biggest deficit of the leadership deficit. what about leadership from our top political leaders and the president needs to use the power of the bully pulpit to build that case. we need to take a boat out of bill clinton's presidency in 1998, were use this type of approach to be able to prepare the way for social security, but this in case for bargain. that's what needs to happen. let me give you three simple ideas for congress. number one, no budget, no pay. i'm serious. i'm one of the...
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Dec 6, 2012
12/12
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MSNBCW
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bush inherited a surplus and left with a massive deficit. didn't monitor the financial system and so on. the most important point is david's right about, which is there's no such thing as a presidential referendum election. i've covered ten of these and they've all been choices. why? because these two candidates live in everybody's living rooms. people make a judgment about their character -- >> reagan was partially positive, just anti -- >> oh that became a choice election after reagan appeared in that one debate against carter and people said, hey, he isn't so bad. i have a choice. >> one of the other players, besides the two candidates was bill clinton, the former president, don't think anybody made a better case of making the case for obama than bill clinton. at the convention a critical moment when he explained the arithmetic of what obama inherited. >> in tampa the republican argument against the president's re-election was pretty simple, pretty snappy. it went something like this. we left him a total mess. he hadn't cleaned it up fast
bush inherited a surplus and left with a massive deficit. didn't monitor the financial system and so on. the most important point is david's right about, which is there's no such thing as a presidential referendum election. i've covered ten of these and they've all been choices. why? because these two candidates live in everybody's living rooms. people make a judgment about their character -- >> reagan was partially positive, just anti -- >> oh that became a choice election after...
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Dec 11, 2012
12/12
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FBC
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the obama plan has $2 trillion in deficit reduction over the next ten years. the boehner plan goes for $2 trillionn deficit reduction, boehner wants, oh, yeah, he's going to kkck tail, allght? we're going to get2.2 bilion in t spending of this country. let me repase that. that'll be a $2.2 trillion reduction in the totallanned spending. the growth of our spending will alter, it'lle just about that line right there. we're potentially oking at the republican plan, well, in 2020, i guess the best way to show you isust how tough it is. we'll only have a deficit and a debt, a national debt under the boehner plan -- remember, this is the o plan, is is the b plan -- $25.2 trillion by 2022. mr. obama wants $350 billn in entitlement cuts over the next ten years, mr. boehner wants $800 billion in entitlement cuts, and we're going to see a big, dramatic negotiation. and whatou and i is -- and all of our fellow americans are looking at is the prospect of a recession next year if the president and mr. boehner can't come to an agreement, as much as a 10% unemployment rate b
the obama plan has $2 trillion in deficit reduction over the next ten years. the boehner plan goes for $2 trillionn deficit reduction, boehner wants, oh, yeah, he's going to kkck tail, allght? we're going to get2.2 bilion in t spending of this country. let me repase that. that'll be a $2.2 trillion reduction in the totallanned spending. the growth of our spending will alter, it'lle just about that line right there. we're potentially oking at the republican plan, well, in 2020, i guess the best...
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Dec 5, 2012
12/12
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CSPAN
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eye 75
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since then, we have that $1.20 trillion deficits, $1.30 trillion deficits, and it simply is not enough. let's do some realistic mathematics, which everyone is ignoring. if we do some honest macros scoring, if you have a goal of stabilizing, it is not enough, because we get the demographic bust happening to us in 2020. we actually have to have our debt coming down if we have any chance of surviving the entitlements, so that is not enough. you really have to get a number like $6 trillion or $7 trillion, ok? let's give the president his fantasy about what he can get from the rich. we have got $1.20 trillion to go. i am sorry. not fighting the wars in iraq and afghanistan is not savings, any more than my not by a maserati next year is a savings. where are we going to get the money? we will need that in the future. say we get another $1.80 trillion in discretionary cuts. where are you going to get the other $3 trillion? there is only one other thing out here, and we do not want to admit it, and that leads ultimately you have to get money from others than the rich, and that is why i was inte
since then, we have that $1.20 trillion deficits, $1.30 trillion deficits, and it simply is not enough. let's do some realistic mathematics, which everyone is ignoring. if we do some honest macros scoring, if you have a goal of stabilizing, it is not enough, because we get the demographic bust happening to us in 2020. we actually have to have our debt coming down if we have any chance of surviving the entitlements, so that is not enough. you really have to get a number like $6 trillion or $7...
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Dec 5, 2012
12/12
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KQED
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the deficit right now is. the notion that something terrible will happen if we don't deal with the deficit right away. the fiscal cliff is a very different story. that's about reducing the deficit too fast. >> ifill: you call it an austerity bomb. describe what you mean by that. >> what's happening is that we are scheduled, unless something is done basically to do to ourselves gratuitously what has been happening to some of the european economies. we're going to have substantial spending cuts, substantial tax increases at a time when the dme is still very weak. of course that's a recipe for sliding back into recession. we set ourselves up with the land mine and the road in front of our economy which is not based on anything real, it's just based on our politicalness. >> ifill: speaking of political mess, both sides have what they say are opening gambits on the table. president obama at least his last week which calls for $1.6 trillion in revenues. the republicans came back with their own yesterday. as you look
the deficit right now is. the notion that something terrible will happen if we don't deal with the deficit right away. the fiscal cliff is a very different story. that's about reducing the deficit too fast. >> ifill: you call it an austerity bomb. describe what you mean by that. >> what's happening is that we are scheduled, unless something is done basically to do to ourselves gratuitously what has been happening to some of the european economies. we're going to have substantial...
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Dec 7, 2012
12/12
by
CSPAN
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eye 125
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but reduces the deficit is jobs. -- what reduces the deficit is jobs. why are we not here to pass the middle-income tax cuts, which unleashes -- creases the high- and contribution to the budget talks? why are we not here to pass middle-income tax cuts? debatee we not heare to the middle-income tax cuts? could it be that deep republicans are holding the middle-income tax cuts hostage to tak cuts for the wealthy? as long as they will not touch one red cent from the high end, we will never have the revenue to combine with the savings and spending cuts to reduce the deficits to create jobs, grow the economy, and improve the lives of americans. [indiscernible] we want to protect the middle class. it is not about the rates. it is about the money. it is about being a fugitive to the high end. it is about giving money to reduce the deficit, perot the economy, and unleash the power. it depends on how much money you can get and say, they will pay less. the middle class will pay more. >> 37% would bring in reckless and revenues? >> i do not know that. -- 37% would
but reduces the deficit is jobs. -- what reduces the deficit is jobs. why are we not here to pass the middle-income tax cuts, which unleashes -- creases the high- and contribution to the budget talks? why are we not here to pass middle-income tax cuts? debatee we not heare to the middle-income tax cuts? could it be that deep republicans are holding the middle-income tax cuts hostage to tak cuts for the wealthy? as long as they will not touch one red cent from the high end, we will never have...
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Dec 12, 2012
12/12
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CSPAN
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create jobs to reduce the deficit. want to fix the deficit? grow the economy and do so in a way that makes responsible cuts , strong iestments for our seniors, pillars of economic security for them and for their families. it is not a time t inject even more uncertainty into the lives of the american people and the economy of our country and what that means globally. it simply isn't the time. many of these ideas are bad at any time, but they are rticularly harmful at this time. so again, i thank the speaker for bringing the issue finally to the floor of the house of representative i look forward to how we can move quickly because time is of the essence and every day that we can remove all doubt about the full faith and credit of the united states of america, our investments in the future, our creation of jobs, and our respect and support for the economic -- and help the security of our seniors. every day we can do that, put >> mitch mcconnell said tax increases for the top to% would not resolve the fiscal cliff issue and would only run the gove
create jobs to reduce the deficit. want to fix the deficit? grow the economy and do so in a way that makes responsible cuts , strong iestments for our seniors, pillars of economic security for them and for their families. it is not a time t inject even more uncertainty into the lives of the american people and the economy of our country and what that means globally. it simply isn't the time. many of these ideas are bad at any time, but they are rticularly harmful at this time. so again, i thank...